The Internal Revenue Service and the Treasury Department plan to amend the required minimum distribution regulations under Section 401(a)(9) of the tax code to address the use of lump sum payments to replace annuity payments being paid by a qualified defined benefit pension plan.
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The Treasury Department and the IRS intend for the amendments to apply as of July 9, 2015, except with respect to certain accelerations of annuity payments described in the notice.
Captive audience; some disagreement; game of 21; and other highlights of recent tax cases.
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